Toronto-Dominion Bank (TD.TO)

A pull back is 5-10% to him. He prefers the ZWB-T ETF to play banks. He does not like the level of the banks right now.

A great story going forward. Sees 5-6% growth plus dividend over the next year.

(A Top Pick Nov 7/13. Up 22.7%.) You can’t go wrong with Canadian banks. What differentiates this from other Canadian bank stocks is that they have such a large US presence. Have more US branches than Canadian ones. They are the #3 player in the tri-state area.

With your bond background, how do you approach a stock like this? Her approach to this is the same as her approach to any stock. It is whether or not the risk area of the market is a good idea at the time. You have to deflect to the bond market and not to the earnings for this bank as that is backwards looking and the bond market is dynamic current and forward-looking. If we are in the stage of the cycle that is positive for equities and the bond market is supportive of that, it means the banks are making money. She likes this bank.

Canadian financials, starting in August all the way through to the end of the year, do phenomenally well. Chart is very positive showing higher highs and higher lows. You don’t trade the seasonals on this one. It is a long-term Hold.

(A Top Pick Sept 11/14. Up 32.07%.) A core holding which he trims and Buys a bit here and there. This has been his highest percentage weighted bank. Really likes it for the US exposure, relative safety and how well managed it is.

Had a large run up in the last few months. Buy when they get down to a PE of 12. 13.2 is the high end of their range. The big money on the banks is done now.

Stay with this or switch to Wells Fargo (WFC-N)? All of the Canadian banks are very solid. Each of them gives you something different. Going forward you want to have those that are more diversified outside of Canada. Not sure that Wells Fargo will give you that tremendous growth that some of the multi-national US banks will, because they are trading at a much depressed value.

People are in love with Canadian banks. Has been a good performer. It is probably one of the best because of its US exposure. He prefers a US bank directly.

Preferred ‘Y’ 3.55995% (Top Pick Nov 22/13, Up 3.74%) Still likes it. Probably gets called in 2018. Probably not a bad pick now.

Likes this bank longer term.

Reporting tomorrow. Chart shows a nice little trendline, and the moving averages are all in the right order. MACD is a little bit high, but in the past, it hasn’t led to anything significant.

Bank stocks could go higher if they decide to have stock splits. They have been increasing dividends. Every 10-15 years, even Canadian banks seem to have an implosion. He would not be buying into Canadian banks at this point in time. Prefers the US banks.

(A Top Pick Aug 27/13. Up 36.42%.) He is looking forward to capital gains of 5%-6% plus the dividend. Likes its US exposure. (See Top Picks.)

The banks are interesting here. They’ve had a decent run here, so we might see them stabilize a little. Likes this bank’s exposure outside of Canada, which he thinks will start to play out. Dividend yield of 3.2%.